BioSource to Get Investment Boost

Genstar Capital LLC, a private equity investment firm, has agreed to invest up to $19 million in Biosource International in Camarillo to help position BioSource for future acquisitions.

A portion of the proceeds also will be used to reduce BioSource’s current acquisition indebtedness.

James H. Chamberlain, BioSource chairman, president and chief executive, said the investment will help accelerate his company’s growth.

“There have been a number of significant discoveries as an offshoot of the recent explosion in genomic research,” Chamberlain said. “The proteins being discovered are creating tremendous new opportunities in our industry. We think that having a strong financial and strategic partner like Genstar on our team will enable us to take better advantage of these developments.”

As part of the transaction, BioSource will elect two designees of Genstar to serve on its board of directors.

BioSource develops immunological reagents and test kits used in biomedical research, mainly in the areas of immunology, cancer and neurological disease.